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What is Project Management?

A Project is a temporary endeavor with a definitive beginning and an end.

Project Management is the application of knowledge, tools and techniques to project activities to meet the project requirements. Each project must go through the following phases –

Initiating

Planning

Executing

Monitoring and Controlling

Closing

1. The Initiating Phase

The Initiating Phase involves creation and formal approval of the Project Charter. All project stakeholders are identified in this phase. High-level risks, assumptions and constraints are identified and documented in the Project Charter.

3. The Executing Phase

The Executing Phase involves the creation of project deliverables per the Project Management Plan.

4. The Monitoring and Controlling Phase

The Monitoring and Controlling Phase involves measuring the project performance as per the Performance Measurement Baselines and taking preventive or corrective actions if any to align the project performance as per the Project Management Plan.